ProAssurance Co. (NYSE:PRA) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its stake in ProAssurance Co. (NYSE:PRA - Free Report) by 567.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,434 shares of the insurance provider's stock after purchasing an additional 128,747 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.30% of ProAssurance worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its position in ProAssurance by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 417,150 shares of the insurance provider's stock worth $5,098,000 after acquiring an additional 8,549 shares during the period. American Century Companies Inc. grew its position in ProAssurance by 4.7% in the second quarter. American Century Companies Inc. now owns 305,698 shares of the insurance provider's stock worth $3,736,000 after acquiring an additional 13,650 shares during the period. Assenagon Asset Management S.A. grew its position in ProAssurance by 2.4% in the second quarter. Assenagon Asset Management S.A. now owns 253,649 shares of the insurance provider's stock worth $3,100,000 after acquiring an additional 6,062 shares during the period. Public Sector Pension Investment Board grew its position in ProAssurance by 6.1% in the second quarter. Public Sector Pension Investment Board now owns 112,203 shares of the insurance provider's stock worth $1,371,000 after acquiring an additional 6,437 shares during the period. Finally, Hsbc Holdings PLC grew its position in ProAssurance by 6.0% in the fourth quarter. Hsbc Holdings PLC now owns 97,624 shares of the insurance provider's stock worth $1,349,000 after acquiring an additional 5,494 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRA. JMP Securities lowered their price objective on ProAssurance from $22.00 to $20.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 17th. Truist Financial decreased their price target on ProAssurance from $16.00 to $14.00 and set a "hold" rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, ProAssurance currently has an average rating of "Moderate Buy" and a consensus price target of $16.33.

ProAssurance Trading Up 0.7 %

NYSE:PRA traded up $0.11 during trading hours on Tuesday, reaching $15.15. 354,013 shares of the stock were exchanged, compared to its average volume of 290,329. The company has a market capitalization of $772.83 million, a price-to-earnings ratio of -27.93 and a beta of 0.23. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.38. ProAssurance Co. has a twelve month low of $10.76 and a twelve month high of $18.98. The business has a 50-day moving average of $13.12 and a two-hundred day moving average of $13.10.

ProAssurance (NYSE:PRA - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The insurance provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.15. The business had revenue of $290.30 million for the quarter, compared to analysts' expectations of $235.61 million. ProAssurance had a positive return on equity of 0.86% and a negative net margin of 2.00%. The company's revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. On average, equities analysts predict that ProAssurance Co. will post 0.58 EPS for the current year.

ProAssurance Profile

ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds.